EUSA Pharma acquires ASPAREC development and commercialization rights

EUSA PharmaFeb 3 2012

EUSA Pharma, a transatlantic specialty pharmaceutical company focused on oncology, oncology supportive care and critical care, today announced that it has acquired the exclusive worldwide development and commercialization rights to ASPAREC® for the treatment of acute lymphoblastic leukemia (ALL) from Alizé Pharma. Under the terms of the agreement, EUSA will pay Alizé Pharma an upfront fee, regulatory milestone payments and royalties on future product sales.  

ASPAREC is a recombinant, pegylated Erwinia chrysanthemi-derived asparaginase. It is currently in phase I development for the treatment of ALL in patients with hypersensitivity to standard-of-care E. coli-derived asparaginase therapy, and has been granted orphan status by the US and European regulatory authorities.  Preclinical data indicate that ASPAREC is potentially longer acting and less immunogenic than currently available asparaginase Erwinia chrysanthemi.

Commenting on the news, Bryan Morton, President and Chief Executive Officer of EUSA Pharma, said, "We are delighted to reach this agreement with Alizé Pharma.  ASPAREC fits perfectly with EUSA's specialty focus on oncology and orphan diseases, and builds on our established portfolio in the field of acute lymphoblastic leukemia.  This agreement follows the approval last year of EUSA's first internally developed product, and further underlines the company's strategic transition into a fully fledged development as well as commercialization organization."

"This agreement between Alizé Pharma and EUSA Pharma, a worldwide leader in the development and marketing of L-asparaginase products, is excellent news for us, for our investors and for ALL patients," said Alizé Pharma's President and founder, Thierry Abribat. "It validates our medical approach, emphasizes our drug development capabilities, and fits well with our business strategy, which is to establish partnerships with the pharmaceutical industry early in the development of our programs in order to secure both near-term and long-term revenue streams."